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You and the 2012 Budget

The tax-free threshold has tripled from $6000 to $18,200, reducing the tax burden on low-income earners. So, for a person earning $50,000 a year that will mean an extra $2,053 in the pocket for 2012-13. Low-income earners (up to $37,000) will also get a boost of $500 to their Superannuation savings.

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